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government must step in to ensure the state and local government. the problem detroit faced is that -- >> state, local, and tribal government. >> and tribal government. [laughter] >> okay. >> the problem with detroit, unlike many municipalities that depend on revenue from real estate tax, they run on income taxes. they never recovered from 2001. the black unemployment rate never recovered from 2001. that downturn decimated the revenue stream for the city, and it never came back. if there are banks that are too big to fail, and we have to step in to make sure they function, there are cities that are too big to fail. [applause] >> bankruptcy in one of those cities. >> yes, and so it is not enough for the administration to say, oh, we're behind you, droit. no. we said to wall street, $800 billion we're behind you, so that's being behind me. [laughter] >> okay. behind you, what are the policies? >> so, wall street caused more damage than what we have put into the budget. there needs to be a financial transaction tax because when they gamble, we lose. [applause] they have to pay
court case of a couple of years ago and, obviously, municipal concerns like the city of detroit. define for us what exactly is eminent domain? >> guest: well, thank you, bill. and, again, it's a pleasure to be back on "washington journal." eminent domain is the power of government to take private property. it's actually a very old power. kings in europe exercised it hundreds of years ago. garage -- gradually the custom arose that people have to be compensated when their property was taken. and it was certainly an attribute of the british crown. so after the revolution the states had the power, and interestingly the fifth amendment to the federal constitution says that nor shall private property be taken without just compensation. it doesn't actually give the federal government the power, it simply assumes that as a sovereign the federal government has that power. >> and was that fifth amendment built into the constitution based on the experiences of the colonies with the crown? >> well, this is a very fascinating point because the crown had abused the colonies in, many ways. so you have
was identified at from detroit. heron and morris are on the ballot to be recalled because of deep objections by their constituents to particularly the gun grabbing votes that they cast some would say at the behest of the new york mayor michael bloomberg in this last legislative session. it's never been in the history of colorado that state legislators have been fired by we the people on the recall in midterm. that's what he means about september 10th. >> indeed. [applause] >> i think it's interesting just on the topic of new york city that you have a mayor now that is like a slurpee grabber and might be replaced by the most famous amateur photographer. >>> we will have more on the future of the political party tonight on c-span town hall. these programs and a variety of topics air live each tuesday, wednesday and thursday from seven to 9 p.m. eastern throughout the congressional recess. republican national committee chairman rights on the rising stars program today on the meeting in boston. we will have that live on c-span this morning at 11:15 eastern canadian alliance for health reform hol
as we have seen in europe and detroit last week? >> you frame this very well. i think it's a important as said to put things in context. when i go back to those years, it was an extraordinary time in american fiscal history. i will never forget being called to an emergency meeting in the fall of 2008 to the majority leader's office. they had been chairing the meeting on energy in another part of the capitol complex. i walked in and there may be 16 or 17 people in the room and in the house and the senate, republicans and democrats. the psychiatry of the treasury and the bush administration was about 6 o'clock in the evening they posted a guard at the door and closed the door. it was very unusual, as you know. and i knew something dramatic was afoot. i sat down and the meeting began. the secretary of the treasury and the federal reserve told us they were taking over the large insurance company the next day and they made very clear they were out there to seek our advice or approval. they were there to inform us they were taking the steps and they told us that if they did not do it they be
, but treating affects down here. and the most dramatic example of that, of course, is stuxnet which detroit about 1000 centrifuges. stuxnet almost what i conducted by a nationstate because it's too complicated to be done in a garage or in your basement, all right? look, given my background, former director of cia, i think it's absolute unavoidable good. but i'll describe what i just described to you in just like they did forward. somewhat almost certain initiative during a time of these just use a cyber weapon to destroy another nation's critical infrastructure. ouch. that's a big deal. you may or may not see me making a comment on 60 mins about a year and a half ago in which i can characterize that as somebody crossing a river gone, got a leaking on the other side of the river, and life will be very different. so those are your sins. stealing your stuff, disrupting the network, destroying their infrastructure. who are the sinners? nationstates. you know that. criminal elements, and then finally this third group that it would have trouble defining, nihilists, anarchists, activists, losec, a
Search Results 0 to 4 of about 5

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